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Spain Startup Map, an online startup and investor community, has created an infographic showing that of 1568 fast-growing Spanish companies in their early stages 435 are in Catalonia and 399 are in Madrid.

The Startup Map project, which tracks young companies using Google Maps technology, aims to connect and promote Spain's 'entrepreneurial ecosystem'.

Recently featured in Forbes magazine, it shows the locations of not only new companies but also investors, business accelerators, incubator programs, co-working spaces, community groups for entrepreneurs, and startup-friendly business service providers.

An infographic compiling the data of community members sheds light on the distribution of Spain's hottest business hubs.

21 per cent of startups operate in the field of e-commerce, by far the most fertile for new companies.

Catalonia tops the charts in terms of startups, coworking spaces and business accelerators.

But Madrid boasts a higher number of investors and service providers, as well as a better ratio of startups to population size.

Just three communities – Catalonia, Madrid and Valencia – account for 70 per cent of Spain's startups.

It's clearly a benefit for new businesses to be based in Barcelona or Madrid; some 70 per cent of Spain's investors are located in one of the two cities.